Posted by Lyal on August 08, 2003 at 19:26:08:
Jerome,
Not nearly enough info for us to help. Keep in mind that just because someone will give you a home does not mean you can afford to take it (I think that’s an old Carleton Sheets quote). What I mean is that most newer homes (5 years old or so) are “upside down” meaning they are worth less than what the loan pay off is. All you would be doing is making her problem your problem. Homes like this go back to the lender and get purchased for much less by investors.
Get the details: year, size, #beds and baths, condition, amount owed etc. Do some local market analysis to get a good idea of value. Bring the numbers back here and see what people think.
All the best, Lyal